Issue link: https://maltatoday.uberflip.com/i/585015
15 Budget 2016 maltatoday, TUESDAY, 13 OCTOBER 2015 REACTIONS GWU: Budget looks after vulnerable people THE General Workers' Union (GWU) said the Budget ref lects the coun- try's economic growth and welcomed the distribution of wealth which targeted the most vulnerable people in societ y and the middle class. The union said the Budget will put more money in peo- ple's pockets and reaches the aspirations of Maltese societ y. Welcoming the increase of low pensions, the union said this would help thousands of pensioners exit povert y. The GWU added that government's commit- ment to eliminate pre- carious employment was commendable as are the measures to reduce the tax burden on those who have above-average in- come. The GWU also wel- comed the 15% income tax rate for police officers doing extra-duties. The union urged gov- ernment to incentivise the manufacturing sector and other sectors with added value in future budgets. GRTU: Balanced budget with positive business incentives THE Chamber of SMEs said that this year's Budget had offerred a healthy mix of incentives targeting the private sector many of which are being implemented with the collaboration of the GRTU. "Most of GRTU's priority areas have in fact been addressed and a good number of proposals have been taken up. GRTU believes this will further secure the country's economic growth," the GRTU said. "There are no apparent shocks to business and awaits timely imple- mentation based on thorough con- sultation with social partners." But GRTU noted with dissatis- faction that the energy tariffs were not reduced albeit clear indications supporting GRTU's claim. Whist GRTU welcomed the an- nouncement that an investigation on bank interest rates and charg- es had now been completed, the Chamber was eager to see the re- sults of this investigation and tan- gible action taken in this regard. "More needs to be done to increase enterprise options when it comes to access to finance, especially means of financing that go beyond the use of banks. In line with this GRTU is also eager to see the implementa- tion of the long awaited develop- ment bank." On transport, a number of GRTU's proposals were taken up, including planned incentives for the private sector to introduce trans- port schemes for their employees, incentives such as car pooling and the strengthening of sea transport as well as the exploration of alter- native means of transport. GRTU said it was pleased govern- ment was giving importance to en- terprises through repayable grants, as well as welcoming the regulation of migrant workers, simplification through fiscal consolidation and the fast processing of insolvency procedures, the export trade guar- antee, the permanent link between Malta and Gozo, the developments in relation to the POYC and the withholding tax on commercial properties. AD: Positive budget does not exploit growth opportunities GREEN Part y Alternattiva Demokratika said that the Budg- et's measures were headed in the right direction but that they lacked a long-term impact. "It's a half-baked budget. On a social level, the government is leaving people on minimum wage depend on the Budget's generosit y to remain above the povert y line. It is shameful that after 40 years we still have not revised minimum wage," AD said. AD said that the recommenda- tion to have pensions at 60% of the national median income was be- ing implemented too slowly. On the environment, AD said the government was sending conf lict- ing messages. "It acknowledges the traffic problem while talking of infrastructural spending and more parking to make it easier for traffic to increase, not decrease. We cannot agree with the reduc- tion in fuel, which also encourages more car usage. We don't under- stand how this will reduce the daily presence of 40 new cars." AD welcomed improved eco- nomic growth figures, proposals to regenerate UCA properties, and the tax on tourism. It however said it was scandalous that the Budget had mentioned nothing in terms of water sus- tainabilit y and the theft of water through illegal boreholes. "There is a clear lack of policy on water conservation and this is a future threat to our country's sustain- abilit y." AD also said that the govern- ment had not addressed zero-hour contracts to take an effective step against precarious employment. Josef Bugeja Paul Abela Carmel Cacopardo and Arnold Cassola